Book a Property Valuation

End of Help to Buy

End of Help to Buy

Economy news GPEA 24th February 2017

The part of the Help to Buy scheme designed to help first-time buyers with only a 5% deposit to put down has now finished, but there are still deals available to help people with smaller deposits.

 

The mortgage guarantee element of Help to Buy was originally set up to boost 95% lending. As its name suggests, the scheme provided a government guarantee to lenders prepared to lend up to 95% of the property value.

 

The guarantee meant that the government would compensate lenders, to help reduce their risk.

 

The scheme proved successful, encouraging more lenders to offer mortgages to those with only a 5% deposit to put down. Some lenders introduced 95% mortgages even without the guarantee.

 

The impact for first-time buyers has therefore been positive, and has given them access to a much wider choice of 95% deals, with some major lenders maintaining the rates they offer even now the scheme has ended.

 

Average rates on 95% deals have also fallen, although buyers must meet affordability criteria to qualify.

 

Those who manage to save larger deposits will have far more mortgage options available to them, but broadly it is a healthier market for homebuyers, whatever size deposit they have.

Pwy ydym ni?

Mae Williams & Goodwin The Property People yn aelodau o’r Gymdeithas Gweithwyr Eiddo Proffesiynol, Cymdeithas Genedlaethol y Gwerthwyr Tai, y Gymdeithas Asiantwyr Gosod Preswyl a Chymdeithas Genedlaethol y Priswyr a’r Arwerthwyr. Rydym hefyd yn Syrfewyr Prisio Siartredig ac yn aelod o Rwydwaith Cenedlaethol o tua 800 o Asiantau Tai annibynnol.

Mwy amdanom ni






Cyfieithwyd y wefan hon gan Bla Translation Ltd
mail@bla-translation.co.uk
www.bla-translation.co.uk

Cysylltu â ni

Eisiau gwybod mwy am Williams & Goodwin a’r gwasanaethau rydym yn eu cynnig, ffoniwch neu anfonwch e-bost atom heddiw.

Caernarfon - 01286 677 775
Bangor - 01248 355 333
Llangefni - 01248 751 000
Holyhead - 01407 760 500
Property Management - 01248 72 40 40
All Wales Auction - 01248 75 39 39

Cliciwch ymai weld manylion llawn ein swyddfeydd


 
 
 
©2021 Williams & Goodwin The Property People Cymru. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Members Login
Registered in England & Wales. 

Check mortgage eligibility online